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(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday.
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AIM - WINNERS
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Tungsten West PLC, up 17% at 28.08p, 12-month range 19p-90p. Says new development plan for Hemerdon tungsten and tin mine in Devon accepted by preferred funding partners. Signs non-binding term sheet for USD30 million royalty investment. "We have taken a conscious decision to seek a larger royalty sale, and no project finance debt in the belief that this will better protect shareholders' long-term interests in these extremely volatile and unpredictable times," says Mark Thompson, executive vice-chair.
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Transense Technologies PLC, up 15% at 57.0p, 12-month range 47.06p-124.4p. Shares jump after signing memorandum of understanding with Meggitt AS to evaluate the use of its 'surface acoustic wave' technology. Meggitt AS is part of Meggitt PLC's Sensing Systems division. Under the agreement, Transense says it will support Meggitt's evaluation of potential market opportunities for the use of its surface acoustic wave technology in the aerospace sector.
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Bradda Heath Lithium Ltd, up 12% at 9.59p, 12-month range 6.24p-17.66p. Says first hole completed at 7,000 metre drill programme at San Domingo. Says multiple different pegmatite bodies intersected across the 262 metres of core, including a 13 metre pegmatite intercept
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Fevertree Drinks PLC, up 12% at 1,066.00p, 12-month range 804.5p-2,802p. The premium mixers maker confirms strong half-year top-line growth, and backs revised guidance despite intensifying cost headwinds. Revenue rises 14% to GBP160.9 million in the six months to June 30 from GBP141.8 million a year prior. Fevertree reiterates its revised full-year revenue guidance of GBP355 million to GBP365 million, with earnings before interest, tax, depreciation and amortisation range of around GBP37.5 million to GBP45 million.
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AIM - LOSERS
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Union Jack Oil PLC, down 16% at 43.07p, 12-month range 10.5p-53.72p. Says Gaffney, Cline & Associates Ltd prepares independent reserves and contingent resources report on Wressle Oilfield, PEDL180 and PEDL182, onshore UK. Says illustrative production scenario shows a a constrained plateau production rate of 800 barrels of oil per day for around five years. Stock has had a strong run since the start of September, up 33% even after Tuesday's share price decline.
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Facilities By ADF PLC, down 11% at 53.0p, 12-month range 50p-88.8p. Revenue for the six months to June-end rises to GBP12.6 million from GBP11.5 million a year before, but pretax profit more than halves to GBP1.3 million from GBP2.8 million. Behind this is rise in cost of sales and administrative expenses. The provider of production and support vehicles for the TV and film industry proposes an interim dividend of 0.46p, however.
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By Lucy Heming; lucyheming@alliancenews.com
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